Before starting, I first want to fully disclose my own student loans. In order to attend college and live on-campus, I had to take student loans, which mostly covered housing and a full meal plan. Now to start, the realities of student loan debt. There is a reason why the title mentions realities not reality. Every person has a different experience with student loans. The basics are still the same, but how each person interacts with them changes. These are some of the topics I believe are worth mentioning in order for you to make the most out of your student loans.All the loans I have taken are federal loans. The pros are that after college, if you can’t pay your student loans, they let you pay the minimum for a certain period of time. They also let you take 100% of your tuition, fees, housing and meal plan. There are different types of federal student loans you should read about more extensively, but overall, I think federal loans are better. For example, if you take a Direct Subsidized Loan, the government pays for the interest while you are in college. The con of having a Federal Loan is that they can literally take your paid wage from you if you don’t pay your loans on time.Many differences take place between public and private universities; student size, professor – student ratio, amenities, location, among others. The reality is that private universities usually look better in your academic transcript and they have nicer facilities with fewer students in each class, but is getting further into debt in order to go to a private university worth it? You should definitely look at public universities too. The SUNY and CUNY programs have great universities in every size all over New York State. Every state has different programs to help you get the most out of your education without drowning yourself in debt.
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